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[size=36]Oil is falling after recording the biggest daily jump ever[/size]
Political | 09:16 - 03/04/2020
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Baghdad - Mawazine News
Oil prices fell today, after yesterday had recorded its biggest gains for one session ever, as prices jumped more than 20%.
The rise came after US President Donald Trump said he expected Russia and Saudi Arabia to soon announce a significant reduction in oil production, in addition to Saudi Arabia's call for an emergency meeting of the "OPEC +" coalition and other producers to deal with market turmoil.
Brent mix was traded, at 08:30 Moscow time today, at $ 28.54 a barrel, a decrease of 4.68% from the previous settlement price.
While US crude was trading at $ 23.83 a barrel, which fell 5.88% from the previous session close.
And rose, "Brent" contracts on Thursday by 21% to set the settlement price at $ 29.94 a barrel, while US crude rose by 24.7% to close at $ 25.32.
Despite the huge gains, oil prices are still down more than half this year. The market tumbled in early March due to the failure of the "OPEC +" countries to reach an agreement on reducing production, and because of the repercussions of the spread of Corona. Ended / 29 / h
Oil prices fell today, after yesterday had recorded its biggest gains for one session ever, as prices jumped more than 20%.
The rise came after US President Donald Trump said he expected Russia and Saudi Arabia to soon announce a significant reduction in oil production, in addition to Saudi Arabia's call for an emergency meeting of the "OPEC +" coalition and other producers to deal with market turmoil.
Brent mix was traded, at 08:30 Moscow time today, at $ 28.54 a barrel, a decrease of 4.68% from the previous settlement price.
While US crude was trading at $ 23.83 a barrel, which fell 5.88% from the previous session close.
And rose, "Brent" contracts on Thursday by 21% to set the settlement price at $ 29.94 a barrel, while US crude rose by 24.7% to close at $ 25.32.
Despite the huge gains, oil prices are still down more than half this year. The market tumbled in early March due to the failure of the "OPEC +" countries to reach an agreement on reducing production, and because of the repercussions of the spread of Corona. Ended / 29 / h
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